Global electric AC motors market size and share is currently valued at USD 101.92 billion in 2023 and is anticipated to generate an estimated revenue of USD 210.98 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 8.50% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2023 – 2032.
Market Overview:
The Electric AC Motors Market is a crucial segment of the global electric motor industry, widely used across various sectors such as industrial automation, automotive, HVAC (heating, ventilation, and air conditioning), and consumer electronics. These motors play an essential role in converting electrical energy into mechanical energy to drive numerous applications. The market is characterized by continuous technological advancements, increased automation in industries, and the growing demand for energy-efficient solutions.
With the global focus shifting towards sustainable energy solutions, electric AC motors are witnessing a surge in adoption due to their ability to enhance operational efficiency while reducing carbon footprints. Industries are progressively integrating AC motors into their production and operational processes, leading to increased market demand.
Market’s Growth Drivers:
Several factors are driving the expansion of the electric AC motors market, including:
Rising Industrial Automation
The demand for automation across industries is a significant driver of electric AC motor adoption. As industries modernize their manufacturing processes, the need for high-efficiency, low-maintenance motors has surged.
Increased Focus on Energy Efficiency
Governments and regulatory bodies worldwide are enforcing stringent energy-efficiency norms, which has accelerated the demand for electric AC motors designed to reduce power consumption and enhance operational efficiency.
Growing Adoption of Electric Vehicles (EVs)
With the rapid expansion of the electric vehicle industry, AC motors have become a preferred choice due to their efficiency, durability, and ability to support regenerative braking systems.
Expansion in HVAC and Consumer Electronics
The increasing demand for HVAC systems and home appliances, such as refrigerators, air conditioners, and washing machines, is propelling the electric AC motors market. These appliances rely on AC motors for their seamless operation.
Urbanization and Infrastructure Development
Urbanization and infrastructure development projects are driving demand for electric AC motors in various construction and industrial applications, particularly in pumps, fans, and compressors.
Major Key Players:
- Allied Motion Technologies Inc.
- Ametek Inc.
- Asmo Co. Ltd.
- Baldor Electric Company
- Franklin Electric Co. Inc.
- Johnson Electric
- Kirloskar Electric Company
- Rockwell Automation, Inc.
- Siemens AG
𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:
https://www.polarismarketresearch.com/industry-analysis/electric-ac-motors-market
Recent Developments
- Siemens AG Expands Portfolio with C&S Electric Acquisition (2021)
- Siemens AG acquired C&S Electric for approximately $287 million to enhance its electric AC motor portfolio and strengthen its presence in India.
- General Electric Introduces MV7-5L Electric AC Motor (2021)
- General Electric launched the MV7-5L electric AC motor, which offers high efficiency, reliability, and durability.
- Designed for industrial applications, including oil and gas, mining, and marine sectors.
- ABB Group Unveils High-Efficiency Motor (2020)
- ABB Group introduced a new high-efficiency motor aimed at reducing energy consumption and operating costs.
- Suitable for applications such as pumps, fans, and compressors.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
The research study includes segmental analysis that divides the market into distinct groups or segments based on common characteristics. With market segmentation, businesses can identify specific customer groups that are more likely to be interested in specific products or services. Also, it enables these businesses to focus their marketing efforts and resources more efficiently, leading to higher conversion rates and improved return on investment. Furthermore, segmentation analysis helps companies develop personalized products or services, which can result in increased customer loyalty and improved customer satisfaction.
Electric AC Motors Market, Type Outlook (Revenue – USD Billion, 2019-2032)
- Synchronous AC Motors
- Asynchronous AC Motors
Electric AC Motors Market, Power Output Outlook (Revenue – USD Billion, 2019-2032)
- Up to 1HP
- Up to 1HP
- Up to 1HP
- Up to 1HP
Electric AC Motors Market, End-Use Outlook (Revenue – USD Billion, 2019-2032)
- Industrial
- Commercial
- Residential
- Automotive
- Agriculture
- Others
The Electric AC Motors Market is poised for significant growth, driven by industrial automation, energy efficiency regulations, and the rising adoption of electric vehicles and smart technologies. As industries continue to modernize and prioritize sustainable solutions, the demand for high-performance electric AC motors will remain robust. The integration of digital and smart motor technologies, along with advancements in energy-efficient designs, is expected to shape the future landscape of this market. With continuous innovation and a growing focus on sustainability, electric AC motors will play a pivotal role in powering industries and applications worldwide.
𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
Radiation Hardened Electronics Market Share